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Join the Cybersecurity and Incident Response Group on LinkedInCongress’ 3 Crypto Hearings Promise Substance – CoinDesk
The narrative I originally pitched this newsletter a year ago as a vehicle to discuss regulatory issues and the U.S. Congress’ approach to crypto in a more in-depth way than in a straight news article. Part of my thesis at the time was that I fully expected to see more regulatory interactions with the crypto […]
Jen Easterly: DHS cybersecurity chief confirmed amid fallout from another ransomware attack – CNNPolitics
The Senate on Monday unanimously confirmed Jen Easterly to lead the Department of Homeland Security’s cybersecurity division, a role that will be key in the administration’s cybersecurity efforts. Easterly, a two-time recipient of the Bronze Star, was nominated by President Joe Biden in April to be the second director of the Cybersecurity and Infrastructure Security […]
How a ransomware attack works – The Washington Post
“Cryptocurrency is invading all forms of criminal activities, and criminals follow the money,” said Gurvais Grigg, a former assistant director of the FBI and now global public sector chief technology officer of blockchain analysis firm Chainalysis. The transactions are also irreversible, said Rich Sanders, co-founder and lead investigator at CipherBlade, which analyzes the blockchain. “You […]
‘Shut down everything:’ Global ransomware attack takes a small Maryland town offline
McKay said JustTech informed Leonardtown that the ransom demand was $45,000 per computer but that the town’s leaders never seriously considered paying. Instead, they are undertaking the painstaking work of restoring computer system backups. The town has 19 computers, and all but two were frozen. One was spared because the employee who uses it was […]
Ransomware Is the IRS of Bitcoin – WSJ
Like taxes, the forced use of bitcoin by victims of ransomware creates a need for at least some bitcoin. Ransom payers have to buy it from someone else, who either is in the energy-intensive business of mining it or speculates on its future value. So far, it hasn’t provided the foundation for broader adoption, not […]
Cyber insurance isn’t helping with cybersecurity, and it might be making the ransomware crisis worse, say researchers | ZDNet
According to a research paper examining cyber insurance and the cybersecurity challenge by defence think tank Royal United Services Institute (RUSI), this practice isn’t just encouraging cyber criminals, it’s also not sustainable for the cyber insurance industry, which warns ransomware has become an existential threat for some insurers. “To date, cyber insurance has failed to live […]
Major Government Contractor Booz Allen Helps Cyber Victims Pay Ransoms—Exactly The Opposite Of U.S. Policy
This time around, though, Bessette is leading the cyber incident response at consulting firm Booz Allen Hamilton, which he joined in 2019. In his new role, he is actually helping the firm’s customers negotiate with hackers, something he never did at the FBI. In some instances, he is even recommending paying the ransom, which goes […]
To stop the ransomware pandemic, start with the basics | The Economist
Fixing the private sector’s incentives is the first step. Officials in America, Britain and France want to ban insurance coverage of ransom payments, on the ground that it encourages further attacks. Better to require companies to publicly disclose attacks and their potential cost. In America, for example, the requirements are vague and involve large time […]
2021 Data Breach Outlook | Cyber Risk | Kroll
Industries most impacted in 2019 continued to be hard hit in both 2020 and so far in 2021, including healthcare, education and financial services. However, the greatest percentage increases occurred in industries that had been generally spared in 2019. The overall implication is that data attacks became broader and deeper during the pandemic, a trend […]
UMass Lowell Closed Due to Possible Cybersecurity Incident – NBC Boston
The University of Massachusetts Lowell has canceled all classes on Tuesday and Wednesday due to a possible cybersecurity incident. The school announced that it was investigating a possible “cybersecurity incident” affecting its technology services. A statement on the school’s online learning portal said all “in-person, remote and online classes” are canceled due to an “IT […]
As ransomware and other cyberattacks grow, insurers struggle to keep up – Marketplace
Given the prevalence of hacking incidents — before and after the Colonial Pipeline breach — more and more companies are purchasing cyber insurance to manage their risk. But are the pockets of large insurance companies deep enough? A new report from the Government Accountability Office looked at the client list of a major insurance broker […]
Mullen Coughlin Continues to Grow With the Addition of Katie Butler as Partner
Continuing its steady growth, Mullen Coughlin proudly welcomes Katie L. Butler, CIPP/US, CIPP/E to the firm as Partner. Katie will practice remotely from Arkansas. Katie adds a wide breadth of experience to the Mullen Coughlin team and joins the largest U.S. law firm exclusively dedicated to cybersecurity compliance, training and planning, data privacy and security […]
PwC to Spend $12 Billion on Hiring, Expanding Expertise in AI, Cybersecurity – WSJ
PricewaterhouseCoopers plans to spend $12 billion and hire 100,000 new people in areas such as artificial intelligence and cybersecurity by 2026, the latest move by a Big Four accounting firm to bet big on technology. The planned hires will boost the company’s global workforce of currently 284,000 employees by more than one-third, said Tim Ryan, […]
Justice Dept. Official to Step Down Amid Uproar Over Leaks Inquiry – The New York Times
John Demers, the head of the Justice Department’s National Security Division, will step down at the end of next week, according to an email he sent to his staff on Monday, a departure that was arranged months ago but comes amid backlash over investigations into leaks of classified information. Mr. Demers was the longest-serving Senate-confirmed […]
The FBI’s seizing one bitcoin wallet won’t stop ransomware — but it’s a start
The FBI’s surprise announcement Monday that it had seized some of the ransom that Colonial Pipeline paid to criminal hackers came as a double shock. On one hand, it was major news that the U.S. government had flexed its cybersecurity muscles on behalf of the owner and operator of the country’s largest fuel pipeline, taking […]